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Wind
Energy - Economical Issues
Wind
energy is relatively cheap; the estimated cost of
generating one kilowatt-hour by wind power is about 8¢,
as compared to 5¢ for typical hydropower and 15¢ for
nuclear power3.
The global wind power industry is a $2-billion-a-year business,
expanding at a rate of 25% per year. India, China, and a
dozen European nations have installed thousands of wind
turbines that generate electricity at a cost comparable
to new coal-fired power plants. In the 1990s, Germany has
created 10,000 new jobs in its wind industry (Johnson,
par. 2).
India has become the fourth-leading user of wind power by offering
tempting investment tax credits and a guaranteed purchase
price for wind-generated electricity. A government agency
focusing on renewable energy provides loans and grants to
further stimulate development (Johnson, par. 6).
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